Money doesn't actually talk. We do.

Goodbye, Countrywide!

Yesterday marked the last day of independence for Countrywide Financial, America’s largest home lender. Company founder Angelo Mozilo, once a demi-god in the industry, exits in disgrace as his company fell from a $25 billion value to $2.5 billion in less than a year.

Bank of America, which is buying the California-based lender, is taking on a huge burden in servicing and collecting on Countrywide’s raft of home loans (which include high-quality conforming loans as well as toxic sub-prime mortgages). BofA is expected to begin selling its products to Countrywide customers ASAP and will begin rebranding next year.

As for Mozilo, it looks like he’s going to spending the next few months defending his prior company’s (and his own) conduct in the mortgage boom. We’ll be watching here at FiLife. In the meantime, let us know what you think about both companies.

– Ari Weinberg